AMAZON IS STARTING ITS OWN NFT MARKETPLACE (2024)

Jeff Bezos has gone from launching rockets to launching NFT marketplaces.

Amazon revealed on Mar 7, 2023 that they will launch their new NFT marketplace on April 24. Only Americans will be able to purchase items from the marketplace, which will initially only offer 15 NFT collections.

Also, there are rumours that Amazon will enable customers to purchase NFTs linked to physical assets. The Milk Man, for instance, will be able to purchase NFTs that are linked to the cool Kirkland sweatpants he purchases from Amazon. (Look it up; it's called fashion)

The "Amazon digital marketplace" tab on Amazon's website will provide you access to the market. NFTs may only be purchased with a credit card and an Amazon account.

So, what’s the big deal? Amazon is the 5th largest company in the world with a $970B market cap (bigger than any other company that has entered the NFT space).

They have over 300m active users and 58% of them are between the ages of 25-44. The perfect age for an NFT degen.

And check it out. Last year, Prime Day did $12b in revenue. That’s 50% of the entire NFT market’s trading volume for all of last year.

The hope is Amazon’s new marketplace will onboard millions of users to NFTs. But after similar flops from Coinbase, Gamestop, and others… time will tell.